NORTHWEST REGION
$1.8 Million FCLF Loan
Construction to Term Financing
36 affordable rental housing units

“Neighborhood Renaissance is proud to collaborate with Florida Community Loan Fund on the Cross Creek Gardens at Quincy development project. FCLF has an incredible track record of facilitating capital flow to address the shortage of affordable housing throughout the State of Florida. With a shared vision and mission to grow diverse communities and propel strong economies, FCLF has proven to be an instrumental resource for Neighborhood Renaissance and the City of Quincy, Florida in this endeavor.” – Michael Schiff, Real Estate Development Director

Founded in 1992, Neighborhood Renaissance is a nonprofit community development corporation dedicated to creating and preserving strong neighborhoods and homes within the financial reach of low- and moderate-income working families. Florida Community Loan Fund has provided financing for many Neighborhood Renaissance affordable housing developments since 2003, the majority of which are located in South and Southeast Florida.

Recognizing and addressing the need for affordable housing statewide in Florida, Neighborhood Renaissance is building Cross Creek Gardens in Quincy, located in Florida's panhandle region in Gadsden County. The City of Quincy is a rural city with rich natural resources and a vibrant community. However, many residents struggle to find affordable housing, which has led to a decline in economic stability. Only about 200 rental units exist in the whole county, and they are routinely nearly all occupied.

With financing from Florida Community Loan Fund and others, Neighborhood Renaissance is collaborating with Acruva Community Developers to provide high-quality housing for low-income families at Cross Creek Gardens at Quincy. Cross Creek Gardens will offer 36 new, affordable rental apartments in Quincy, available to households with incomes ranging from 50% to 80% (or less) or Area Median Income (AMI). Rents will be available as low as $600 per month – well under the area average of $1,264. 

The community will consist of 1-, 2-, and 3-bedroom apartments, including high energy efficient appliances and high end finishes. The common amenities will include a clubhouse area with gathering space, computer lab, conference room, kitchen area, and outdoor patio.

Cross Creek Gardens will provide high quality, affordable living space to families who may otherwise struggle to find affordable options. This in turn can help alleviate the stress and financial burden of trying to make ends meet, while at the same time fostering a sense of community as residents come together to support one another and form meaningful connections. This affordable housing community provides a foundation for economic growth and stability in the community, and will act as a catalyst for future phases of additional housing on the site. The housing development will bring an increased demand for local businesses and services, which will contribute to growth of the local economy and create job opportunities.

The project includes additional financing from state and local government and Chase Bank.

Learn more about FCLF and Neighborhood Renaissance 

Learn more about Neighborhood Renaissance